Anglo Irish Bank has appointed Declan Quilligan as chief executive designate of the group's UK operations. It follows the decision of John Rowan to leave the bank at the end of the year to pursue private equity opportunities in European real estate.

Mr Rowan was one of the four contenders for the job to succeed Seán FitzPatrick as chief executive earlier this year. Another of the contenders, Tiarnan O'Mahoney, left Anglo some months ago. The other unsuccesfull candidate for the position, Tom Browne, continues to work closely with the new chief executive, David Drumm. Yesterday Mr Drumm said Mr Browne is an integral part of his team and will not be leaving Anglo. "He is not going anywhere. He is very key to the bank."

Mr Drumm said it was disappointing that Mr Rowan was departing but said that people move on and the bank had time to plan for his succession. Mr Rowan informed Mr Drumm a couple of months ago about his plans. He will be repalced by Mr Quilligan. "This is a superb opportunity for Declan. We have a very strong team in the UK," Mr Drumm said.

John Rowan (48) has been with Anglo for 20 years and established its UK business. Drumm has said this is the growth engine for the bank and he expects Anglo's UK operations will be the biggest part of the group within the next three to five years. The UK business contributes about a third of Anglo's profits currently.

Mr Rowan will leave at the end of the year. He intends to set up a private equity firm targeted at central Europe. He led the bank's entry and growth in the UK market and is highly regarded by its customers and investors.